Topic: What would happen to banks? - page 31. (Read 14001 times)
With banks, nothing will really happen in the era of the crypto currency. However, I do not agree with the fact that banks will provide all the services that they render in ordinary currency. I think that banks will never issue loans in the crypto currency and will not accept decentralized crypto currency for depositary storage because the crypto currency will be a very risky business for them. Bankers do not like to take risks. They will only provide services for exchanging crypto currency in fiat.
More and more banks understand that there is a future for blockchain and they can not already ignore it. Banks will wait for what laws the cryptocurrency will accept their countrys, and then they will act.
Banks will just continue to grow but slower than before because people now a days are choosing cryptocurrency more than placing their money on the banks.
Are they? I don't think so. You're not looking in a wider circle. There are a lot of people that do not care about Bitcoin at all, I've gone to a bank last time and you can just see the same people and the same activities that is happening there, yes it is still as crowded as before.
Banks will not wait for the government since there are some countries that don't really give attention to crypto currencies. Banks will either accept the fact that crypto currencies is the future or just upgrade or developed into something. If we are talking about the future, we should not just remain to who we are right now, we should keep up to the development and changes.
i think banks are going to loss alot of investment and other fiscal activities done with thier customers when crypto currencies takes over.and this will or may lead to reduction and decrease in their banking activities
In every business it's the same. When new technology comes up the existing businesses will evolve or die. And obviously new businesses will also rise strong.
Same happened with mp3 and music industry...
Same happened with mp3 and music industry...
That's true, but I think the more probable outcome is that banks wouldn't die, instead, they would make their systems adjust and work with the upcoming trend, that is the cryptocurrency wave. We must not forget that banks are business entities, therefore, they would always try to find ways to take advantage of new business systems to make it work for them just like the introduction of credit cards, especially since more people are more accustomed on using it now. I think that as the cryptocurrency market evolves more, banks would soon try to exploit such market more as well.
More and more banks understand that there is a future for blockchain and they can not already ignore it. Banks will wait for what laws the cryptocurrency will accept their countrys, and then they will act.
Banks will just continue to grow but slower than before because people now a days are choosing cryptocurrency more than placing their money on the banks.
Banks would be still existing certainly as long as the their customers exist. The current situation is, crypto has over taken fiats in the currency market and thus banks revenue has come down and the revenue is not like past years. Number of fiats circulation has come down caused by increasing numbers of investors into crypto currencies especially into bitcoin. Way of Crypto transactions made everything easy sitting from a location not moving to near by areas.. Peer to Peer transactions with blackchain technology have tremendously proven its secured system to the current generation which is adapting such technology.
More and more banks understand that there is a future for blockchain and they can not already ignore it. Banks will wait for what laws the cryptocurrency will accept their countrys, and then they will act.
Banks will just continue to grow but slower than before because people now a days are choosing cryptocurrency more than placing their money on the banks.
Bank will continue to exist. Though,there is going to be a little shake which will affect there mode of operations.fiat money will remain no matter how much acceptability Bitcoin gains. With that in mind, bank will still be in business.
Well the bank is the traditional financial institutions while the blockchain technology is the digital bank and while the bank is centralized the blockchain technology is not and it is decentralised, so the both perform different function and at that non will absolent the other.
banks will also adapt to blockchain and accept cryptocurrencies in the coming future along with fait currency cryptocurrencies are future money
More and more banks understand that there is a future for blockchain and they can not already ignore it. Banks will wait for what laws the cryptocurrency will accept their countrys, and then they will act.
Banks will remain because not every people in the community can manage to invest on bitcoins or well knowledgeable about cryptocurrency and that is the reason why banks will still live.
Bitcoin is born with the intent to free ourselves from the oppression of states and banks, but they will hardly yield their power easily.
So, let's expect a bloody war with no holds barred.
But, in the end, the future can not be stopped.
So, let's expect a bloody war with no holds barred.
But, in the end, the future can not be stopped.
Of course, the banks will not disappear, but I think that with the expansion of the crypto currency, their functions and their quantity will be significantly reduced.
Now it would seem that Bitcoin's fate lies in the hands of two adversaries and it fighting both together, and therefore cannot any chance whatsoever .. Government can ban Bitcoin anytime they want to goes the conventional wisdom. Banks can marginalize and crack down on bitcoin exchanges stemming the flow of fiat liquidity into bitcoin resulting in a price crash and quick destruction while banks and governments high five each other in outlawing a threat to their governance and financial monopolies.
More and more banks understand that there is a future for blockchain and they can not already ignore it. Banks will wait for what laws the cryptocurrency will accept their countrys, and then they will act.
Banks will have difficulty if the BTC is increasingly developed, the bank will lose a large number of customers if they remain sluggish and not improve the profitability of customers.
Future banking services will completely internalize the Internet.
The future online banking business will directly connect customers and their lives in real time.
90% of offline outlets in the future = Experience + Consulting + Community Center
The future online banking business will directly connect customers and their lives in real time.
90% of offline outlets in the future = Experience + Consulting + Community Center
Banks will always exist, even when the whole world turns to the use of crypto currencies. The structure and technical principles of work will change, but the functions for producing and generating money from the air will remain.
Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.
1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.
2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.
3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.
4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.
As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive
It's no big matter Banks will find a way to solve this example regulating the terms of crypto's and regulating it's uses. Probably there will be a war that are going to break out if the balance of this two will to be broken. Indeed crypto's are good but not all people know it and how to use it so we are probably safe for now. 1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.
2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.
3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.
4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.
As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive
1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.
This is likely but it's not going to be their "main source", they have a lot of coverage as a company to run a business and services to offer.Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.
2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.
Hmm, no need for that as crypto's have their own wallets(accounts), the only thing that this can guarantee is they are the bank and someone who's not really knowledgeable on crypto's will have a peace of mind using it.Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.
3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.
Yeah I can see this coming too.Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.
4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.
They can be hacked too, they can be safe because they are banks but for the normal crypto enthusiast he/she would keep his crypto's on a safer wallet like hardware. Though there's no interest but it's growing while its price increases too. ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.
Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.
1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.
2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.
3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.
4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.
As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive
1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.
2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.
3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.
4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.
As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive
I don't think banks will become obsolete when cryptocurrency is more popular in the future. There are crypto banks to be considered as means to save our earnings in crypto. Real-world bank's would still remain to cater those who cannot get into cryptocurrencies.
One close friend of mine is working in the bank system on a high position and she said that in our country banks are not concerned about cryptocurrencies at all because all of them are thinking that it is a bubble.
Maybe your friend nit aware if what is the crypto currencies because many people don't have knowledge about it just they keep repeating the words saod hy someone.It is not a bubble we can see that the prices are increasing again. Jump to: